The company, which recently changed its name from Chronocam, said the round was led by an “unnamed investor from the electronics industry.” Investors also included Intel Capital, 360 Capital Partners, Supernova Invest, iBionext, Renault Group, and Robert Bosch Venture Capital.
Founded four years ago, the company has developed machine vision technology that can process up to 100,000 frames per second and that has applications for emerging industries such as robotics and autonomous vehicles. The technology is designed to mimic the functions of the human eye.
Prophesee has now raised about $40 million and said it will use the new round to accelerate development and commercial deployment of its technology.
“Our event-based approach to vision sensing and processing has resonated well with our customers in the automotive, industrial, and IoT sectors, and the technology continues to achieve impressive results in benchmarking and prototyping exercises. This latest round of financing will help us move rapidly from technology development to market deployment,” said cofounder and CEO Luca Verre in a statement. “Having the backing of our original investors, plus a world leader in electronics and consumer devices, further strengthens our strategy and will help Prophesee win the many market opportunities we are seeing.”